Options for buying a home in vibrant downtown Silver Spring, MD will soon expand with completion of Octave 1320, a new condominium development at 1320 Fenwick Lane. Now under construction on the site of a former office building and expected to deliver in the fall of 2015, Octave 1320 will offer 102 one- and two-bedroom condominium homes with prices starting in the low $200,000s. Presales by W.C. & A.N. Miller Realtors, a Long and Foster company, will begin in early May.
Octave 1320 is the only new condominium development in the submarket, said Peter McLaughlin of ProMark Development, developer of the new community. “Octave 1320 will give buyers the chance to live in the heart of an incredibly convenient walkable community, just steps to the Metro and a wide range of shops, restaurants, and entertainment venues, while building homeowner equity.”
Design by BKV Group, Octave 1320 condominiums will feature high ceilings, floor-to-ceiling glass, and corner sliding barn doors that open bedrooms up to the living-dining space during the day while providing night-time privacy. Every home will have a walk-out balcony, Juliet balcony, or terrace. Other sought-after design features include engineered wood floors, stainless steel appliances, all-wood cabinetry, and quartz countertops. Residents also will have use of a fitness room, a rooftop SkyLounge that can be rented out for private parties, and a roof deck offering 360-degree views reaching to downtown Bethesda.
“Octave 1320’s buyers will be able to enjoy a modern urban lifestyle, surrounded by amenities, at a reasonable price,” said Lynn Hackney, President of Urban Pace, which is marketing the development.
“We are repurposing a 1964 office building, reusing the basic structure but replacing everything else,” said McLaughlin. “It’s the ultimate form of recycling.” Construction financing for the project is being provided by BB&T and Montgomery County’s Department of Housing and Community Affairs.
In the future, the company plans to redevelop the adjacent lot that was used previously for office tenant parking.
Octave 1320’s enviable location is just two blocks from Metro and adjacent to a large county-owned parking garage. Woodside Urban Park, just one block from Octave, offers a 3,500 square foot skate spot, playground, tennis courts, and handball courts. Residents will be able to walk to Whole Foods, Giant, the Fillmore entertainment venue, AFI Theater, and restaurants ranging from Tastee Diner to Ray’s The Steaks, with new ones opening all the time.